The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, made some nasty changes. One specific nasty change was to the so-called “Kiddie Tax.” You see, the TCJA law changed the way in which the IRS taxed your children’s investment-type income. This nasty change meant that your children likely had to suffer an enormous tax increase. But wait! The Congress, changed … [Read more...]
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Divorce: Beat Alimony, Redeem Spouse’s Stock in Your Closely Held Corp.
If you’re getting a divorce, or are in the process of getting one, my new article makes must reading. Why? Because the Tax Cuts and Jobs Act of 2017 (TCJA) significantly changed the way you should handle divorce planning now. Failing to understand how to comply with Uncle Sam’s rules can cost you a lot of money. That’s why it’s so important for you to read my new article … [Read more...]
TCJA Changes Vacant Land Tax Strategies
Do you own a vacant lot or other unproductive land? If the answer is “yes,” it’s very likely you’ll need new strategies for tax years 2018 through 2025. You might even need to consider making different investments! Why? Because the Tax Cuts and Jobs Act (TCJA) has impacted every cost you incur to carry that vacant lot or unproductive land investment. Want to understand … [Read more...]
Will the Newly Released Section 199A Rental Safe Harbor Work for You?
Back in January 2019, the IRS provided you with a Section 199A safe-harbor option for your rental properties. This was great news because the safe harbor made it a lot easier for your rental properties to qualify for the valuable 20% Section 199A deduction. Now, nine months later, the IRS has issued the final version of the rental safe harbor and it includes some very … [Read more...]
New Individual Coverage HRA Turns the Clock Back To Pre-ACA Health Care Options
It’s a fact. The Affordable Care Act (ACA) destroyed many benefits provided by the Section 105 medical reimbursement plan. To rectify this, the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA), introduced in 2017, did help to some extent. How? By letting employers with fewer than 50 employees, reimburse certain health care costs up to a set limit … and … [Read more...]